There is hereby established a Traffic and Safety Fund. All parking fees collected shall be deposited by the city treasurer into said fund. The Traffic and Safety Fund shall be appropriated and expended as follows: first, for the purpose of the acquisition, establishment, erection, maintenance, and operation of the parking meter system; second, for the purpose of making the system effective; and third, for the expenses incurred by and throughout the City in the regulation and limitation of vehicular parking, traffic relating to parking, traffic safety devices, signs, signals, markings, policing, lights, traffic surveys, and safety programs.